Allianz raises outlook for the full year after better-than-expected quarter. Published on 11/12/2026 at 01:20 am EST - Modified on 11/12/2026 at 02:25 am EST FRANKFURT, Nov 12 (Reuters) - Germany's Allianz on Thursday gave a rosier outlook for the full year after a 2% drop in third-quarter net profit still came ahead of expectations. o Net profit attributable to shareholders of EUR2.784 billion ($3.08 billion) in the three months through September compares with profit of EUR2.847 billion a year earlier. The figure surpassed a EUR2.506 billion consensus forecast. o Allianz lifted the upper end of its operating profit outlook to around EUR18.6 billion, compared with its previous guidance of EUR17.4 billion plus or minus EUR1 billion. o Allianz said that its asset management and property-casualty divisions supported third-quarter profit. o Asset management, which includes the PIMCO brand, saw an 18% rise in operating revenue and a 20% increase in operating profit. o Third-party assets under management dropped slightly to EUR2.152 trillion in the third quarter from EUR2.161 trillion at the end of the second quarter, partly a result of "adverse market effects driven by interest rate movements". ($1 = EUR0.9027) (Reporting by Tom Sims and Alexander Huebner, editing by Linda Pasquini and Thomas Seythal) (C) Reuters - 2026

Intact to run European specialty business from London via new UK branch. The former RSA will fold its UK and continental specialty books into one European business and plans a regulated London branch from January Nov 12, 2026 Intact Insurance is combining its UK and European Specialty Lines operations under Intact Insurance (Europe) and plans to open a UK branch of that business from 1 January 2027, subject to regulatory approval. The branch would let Intact write European risks from London instead of splitting them between separate UK and EU companies. Specialty Lines handles the group's larger, more complex and internationally exposed risks, mostly through its London market teams. Intact says brokers will deal with the same underwriters, specialist teams and contacts as now. The aim is to make it easier to place programmes that span the UK, the EU and the wider European Economic Area. One insurer for multi-country clients. According to Intact, the London branch will mean one set of trading arrangements across the UK, EU and EEA, and a single insurer for clients that operate in several countries. It also expects less admin on cross-border placements and simpler policy documents where UK and European risks are written together. Nadia Côté, who runs the European business and heads Specialty Lines in the UK, said the new structure would make European risks easier to place. She called it a step towards running Specialty Lines as a single global team. "Brokers have told us, make it easier to place and manage risks across multiple territories by reducing complexity while retaining our local specialist expertise and that is exactly what we are doing," she said. Côté joined from Allianz Commercial, where she was UK managing director, and took over the European role from Lynn O'Leary, who moved to the US to lead Intact's specialty business there, as Insurance Business reported at the time. Since then Intact has started to join up distribution across the two regions, hiring Tom Argentieri as chief distribution officer for UK and Europe Specialty Lines, reporting to her. From Luxembourg to Paris, and back to London. The European business is the old RSA Luxembourg, the EU carrier RSA set up after the Brexit vote so it could keep writing continental risks. It was renamed Intact Insurance (Europe) S.A. in October 2025, when Intact Financial Corporation, which bought RSA in 2021, retired the RSA and NIG brands in the UK, Ireland and Europe. The company has since moved its head office from Luxembourg to Paris, with French regulator ACPR records showing its branches registered under the new set-up from 1 January 2026. It already trades through branches in Belgium, France, Germany, Spain and the Netherlands. According to its 2025 solvency and financial condition report, it also has a UK branch, but that branch is unregulated and provides operational support only. The plan would turn London into a regulated branch that writes business. The restructuring comes as Intact pushes for growth. In commercial lines it wants to grow its UK business from £2.7bn to £5bn by 2030, as Insurance Business reported when UK and Ireland chief Ken Norgrove became president of the Insurance Institute of London. Its multinational offer now runs through partners in more than 170 countries and territories. Its UK results have lagged. Parent Intact Financial beat analyst forecasts in the first quarter, but its UK business took a hit. Waiting on the regulator. The January date depends on approval. Since Brexit, an insurer based in the EU needs UK authorisation to run a branch here, and the Prudential Regulation Authority sets out how it authorises and supervises third-country insurance branches, including when it would rather see a subsidiary. Intact has not said when it applied. Nowly'll keep you up-to-date with the latest breaking news, cutting edge opinion, and expert analysis affecting both your business and the industry as whole.

"In a world where stability has become rare, Portugal offers economic predictability to investors" Says the Secretary of State for the Economy, João Rui Ferreira 10 November 2026 at 18:21 The Secretary of State for the Economy, João Rui Ferreira, highlighted Portugal's attractiveness to international business leaders gathered by Verlingue, as part of the 74th Global Conference of the Worldwide Broker Network (WBN), in Lisbon, stating that "the Adelaïde Group demonstrates, in practice, what we seek to attract to Portugal: an investor who came, stayed and continues to grow". Last Tuesday, at the Reservatório da Mãe d'Água das Amoreiras, Verlingue hosted a Cocktail Dînatoire & Soirée Festive, supported by Allianz, which brought together clients, institutional partners, representatives of the insurance sector and international participants of the Worldwide Broker Network (WBN) Global Conference, which took place in Lisbon between 21 and 24 October. The gathering also marked a particularly relevant moment for Verlingue Portugal, following its recent integration into WBN, one of the largest international networks of insurance and employee benefits brokerage, present in more than 100 countries. This integration represents a new stage in the evolution of the broker's offering, strengthening its capacity to support Portuguese companies in their internationalisation processes and to accompany multinational organisations with a presence in Portugal and the Iberian Peninsula. Through the WBN network, Verlingue Portugal's clients now benefit from access to a global community of experts and coordinated solutions on an international scale. Addressing an audience made up of business leaders and representatives of organisations from different geographies, Benjamin Verlingue, Chairman and CEO of the Adelaïde Group, highlighted the strategic importance of the Portuguese market for the Group and the role of WBN in supporting the international growth of companies. "Portugal is a key market for Verlingue and for the Adelaïde Group. We have been present in the country for more than ten years and it is a place where we want to invest and remain in the long term. The integration of Verlingue Portugal into WBN is also recognition of the quality of the work carried out by the team and allows us to ensure that our clients find solutions wherever they decide to expand," said Benjamin Verlingue. He also stressed that "the insurance business is, above all, a business of relationships, trust and partnership", adding that WBN's international network will allow Portuguese companies to access risk management and protection solutions in any market where they carry out their activity. The event also featured the participation of João Rui Ferreira, Secretary of State for the Economy, who addressed a message to the international guests focused on the evolution of the Portuguese economy, the country's capacity to attract investment, talent and business activity, as well as the importance of the insurance sector for stability and economic growth. In his speech, he highlighted Portugal as a country open to the world and increasingly competitive in attracting international investment, stating that "in a world where stability has become rare, Portugal offers economic, financial, political and social predictability to investors and predictability to those who manage risk. This may today be the most valuable asset of all". Addressing the international representatives present, João Rui Ferreira also reinforced the Government's commitment to creating favourable conditions for business growth, stressing that "we want to give investors the confidence, security and partnerships they need to invest, export, cross borders and grow". The Secretary of State reinforced that Portugal brings together factors increasingly valued by global companies, such as qualified talent, language skills, connectivity, security and quality of life, arguing that the country's ambition is to establish itself as "one of Europe's strategic hubs for international companies". In a setting marked by the historical and heritage richness of the Reservatório da Mãe d'Água das Amoreiras, guests also had the opportunity to experience one of Portugal's most emblematic cultural expressions, through two musical moments performed by fado singer Gisela João. The artist presented fado to an international audience, providing a cultural experience that complemented the event's objective: to showcase Portugal, its identity and its capacity to host business gatherings of a global dimension. For Verlingue, this gathering was an opportunity to welcome to Lisbon an international community of business leaders, strengthen its integration into WBN and promote Portugal as a country open to investment, innovation and international cooperation. Verlingue is an insurance broker specialising in corporate protection and a subsidiary of the Adelaïde Group, forming part of the top 5 in the national ranking. With the mission "Protecting the Future", Verlingue aims to make risk management and employee protection a lever for creating value and performance for its clients. In Portugal, France, Switzerland, the United Kingdom and Italy, and present through partners in more than 100 countries, Verlingue offers the most effective solution, supporting its potential for sustainable development and with a positive impact on the world.